It seems that we need to look at creating about a 20% surplus of savings!
Now how do we go about doing this, you may ask?
It’s a good question, and it starts with our shopping habits, if you have read my eBook 12 ways to $ave yourself a bucket load of cash on your horse, you will be familiar with a few ways to save money – here’s some tips on how to save money every month and reduce horse costs.
Let me ask you this question – Does it surprise you that shops or store practices can have a significant impact on the way you spend your money?
All I can say is that we need to learn NOT to take the bait!
Ok, Lets look at some ways to get 20% of saving back into your bank account!.
10 Tips On How To Save Money Every Month.
1. Make a list of what you need, this may be horse items or simply when doing your normal shopping. A tip for when you shop for groceries for example, is make sure you eat before you shop. A hungry tummy will cause you to spend more money leaving you with less in your pocket.
2. When you are purchasing snacks and items to make for your horse event lunches etc – Know exactly what ingredients you need to purchase. The best way to identify this is to follow a recipe and make a list of the ingredients before leaving home. This way you know what is needed and how much to purchase. Only purchase what is on the list. This will be a huge saving for you, and help you reach that 20% goal.
3. Take money out of your account and take the exact cash you need, don’t take any cards or other money, this will eliminate that impulse purchase you were about to make……This is a harsh tactic and successful! Another more drastic tactic, that works is to take your credit card, place it in a bowl of water and then put it in the freezer. I know I said the freezer, and it is an extreme measure, however if you need encouragement not to spend, then this is it. By the time you have thawed out your credit card you have probably decided you don’t really need that item. This method is if you need that extra help mastering delayed gratification and will stop the impulse buying.
4. Remember to use your two questions from the previous article.
• Do I really need it now?
• Can I live with out this purchase for now?
Because shops will be working their advertising on you, enticing you to reach for the items that are not on your list. Be aware of the tactics that shops use to get you to impulse buy, keep alert and don’t let the advertisers win.
5. Check you are not purchasing something you already have in the tack shed……..just because you cannot locate the item is no excuse for buying another one. To overcome the this problem make another list, of what items you are running low on or will need soon, by doing this when ever you are out and about and this item comes up on special you will know instantly that is something you can buy at a good price. It’s easier than ever to have a list of items always at your fingertips, today with mobile phones you can make a list simply by using a phone app, just cross it off once its done. This preparation is what will make you a smart shopper!
6. Use your very own horse poo resource to grow the commonly used vegetables that you buy all the time. Be sure to compost the manure first, for best results. I found green leafy vegetables and herbs expensive in the stores as one example. I grow all my own herbs including coriander, basil, lemongrass, parsley, thyme, sage and dill and more – Its saved me money every time I pick herbs, which for me is daily. I also grow various lettuce, spinach and other vegetables, its been a big money saver. For one I don’t waste very much food, as I only pick what I need for each meal, my fridge is running more efficiently as there is less fresh food in it – I go shopping in my garden, cant get fresher than that! This really has reduced my food bills now I don’t need to purchase so much. Even if you have a balcony you can grow some vegetables and herbs. Get creative, and you can really learn to enjoy saving money. Now you know how to save money every month!
7. Where do you shop? The tack store, fodder store, or the supermarket? Where you shop can determine if you are shopping wisely. Take notice of the items you are purchasing, and think to yourself where would be the best shop to purchase these items, for example buying horse shampoo and sponges might be best at the supermarket, in fact lots of horse items can be purchased at supermarket or cheaper outlets. Think and plan before you shop.
8. Spontaneous purchases or must have it now spending habits will cost you much more in the long term. For example you are getting ready for a horse show and you suddenly cannot find an item you need for the show, you have looked everywhere and they are no where to be found, you are in a hurry. In this situation do you think you are in a wise shopper mood? I don’t think so, this is when you are most susceptible to out of control spending. Planning ahead and having a list of what you are running low on will help in this situation.
9. Saving money when traveling to horse shows and events can be as simple as car maintenance. For example when was the last time you checked your tyre pressure? Do you know the correct tyre pressure for your vehicle? Did you know that low tyre pressure causes extra friction on the tyres, and that increases your fuel efficiency? Is low tyre pressue costing you a fortune? Check all of your tyres – this includes vehicle and float, plus check the spare while you are at it.
10. Here are some other questions to ask; can you make it yourself, fix it, substitute it or reduce the price?
Sometimes we can make things ourselves instead of buying an item. For example make your own rope halter or hay net. You can fix it yourself such as a rug repair or lead rope.
You can substitute an item, such as using toothpaste to clean stainless steel instead of stainless steel polish. You could reduce the price of an item by purchasing second hand, buying when the sales are on, or using coupons. These are just a few ways you can look at trimming your horse expenses.
Make yourself accountable for every purchase and you will be ahead of the pack in the months ahead.
With a healthier bank balance, less stress in your life and your back in control of your finances rather than them controlling you. By knowing these tips you now have a better understanding on how to save money every month ?
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Smile Often, have Fun and Enjoy the Ride!
Creator, Complete Horse Care